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Friday, 28 February 14
DRY BULK MARKET SLOWLY BUT STEADILY FINDS ITS FOOTING - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market, hit by the low seasonal demand which is a typical characteristic of the first quarter of each year, is beginning to emerge from the shadows as of late. During the past few days, the market's benchmark, the Baltic Dry Index (BDI) has been on a slow, yet steady rise, ending yesterday's session, once again on the upside, reaching 1,250 points. Capesizes were the dominant force yesterday, with the respective Baltic Capesize Index gaining 137 points on the day to reach 2,049 points. Panamaxes were still suffering, while the other two smaller segments, i.e. the Supramax and Handysize ones, were steady on the day.
In an announcement issued yesterday on the occasion of its 2013 results, dry bulk ship owner Pacific Basin, noted that the cyclical upturn of the dry bulk market has started. According to Mr. Mats Berglund, CEO of Pacific Basin, “dry bulk shipping in the first half of 2013 experienced its weakest market conditions since 1986, while an improved second half demonstrated encouraging early signs of a cyclical upturn with increased rate volatility".
In a separate weekly report, shipbroker Fearnleys, commented on the Capesize market that "Cape paper continues to be aggressively bought and it appears the physical has been ´kickstarted´. Some gains on the West Australia/China and Tub/China route have been witnessed in the last few days (fixing slightly north of 9 PMT and 21 PMT respectively at the time of writing). The steep contango to spot continues to widen. Q3 FFA contracts have soared up to USD 26, 250 while the rear end of the curve has also pushed up with Cal 15 trading at nearly USD 24k. The market is pricing in increased iron ore supply from West Australia set for Q2, and if this displaces domestic Chinese production, it will create a very favourable environment for Capes. We are already witnessing the iron ore price declining to its current level USD 116 PMT (62% CFR Tianjin). Period rates are reflecting the paper, and USD 25, 500 is being bid on good units for period of 2 years now", the shipbroker said.
It added that "the Panamax market has continued to decline in the Atlantic. Some owners are willing to take the lower levels whereas others are holding back and waiting for a better tomorrow. T/A rounds are now being fixed at levels around 6-7k depending on the trade on T/C, whereas voyage rates are easily 50% less. Ships able to breach INL are in for a small premium. In the Eastern hemisphere the week started off positive, via a wait and see mode to gradually become weaker. Pacific rounds are being fixed in region of USD 11-12k for NOPAC, less for Indo/India. With a huge number of ships in ballast for ECSA grain business, the recent upward trend has changed to a negative. 15+500 APS is the going number / 39 pmt. The gap between spot and period market is still significant. A Kamsarmax was reported fixed for one year at USD 15,500 bss Spore delivery, another 14200+425 GBB bss Cape Town whereas good Panamaxes should be able to get high 13´s for same. Expectations for ECSA grains are still alive", Fearnleys said.
Finally, on the Handy markets, the shipbroker said that "the Atlantic handy/supra market experienced a downward trend this week but not a dramatic one. TA rates are down around USD 800 w-o-w lead by less activity and fewer fresh cargoes to be fixed. In the Pacific however we see rates coming up a bit. Coal cargoes for early March dates have been covered and prompt ships open in Singapore area are able to achieve a good 14k for Indo coal rounds. NoPac rounds are being fixed at around USD 10k for ships with good specs and the activity for short periods are again back in the market. Owners are asking 13k for short periods bss Feast delivery while some chrts are holding a bit back before willing to come close to those levels".
Meanwhile, on the demolition front, where things have slowed down considerably as a result of improved market sentiment, shipbroker Intermodal noted that the market "is still reigned by Indian breakers, who currently appear to have ousted the rest of the competition from the race of securing demo candidates. As a matter of fact, with the exception of a couple of vessels, the rest of the deals reported this past week appear to have ended up in Indian hands. Breakers in the country have been enjoying the stability of the local currency, which posted its biggest winning streak against the US Dollar in the past couple of months after strengthening for three days in a row to this morning. At the time domestic steel mills have been preparing for another price hike, fact which offers further assertion to breakers operating in the country that their bids have been moving towards the right direction. While Bangladesh has managed to keep its prices stable, China and Pakistan appear to have no intention to compete at these high levels, with the former allowing for the gap between themselves and India to climb to over 120 $/ldt. Average prices this week for wet tonnage were at around 340-470$/ldt and dry units received about 330-460$/ldt.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Monday, 24 February 14
DRY BULK MARKET TO IMPROVE OVER THE COURSE OF 2014, BUT OVERSUPPLY STILL AN ISSUE SAYS BIMCO'S CHIEF SHIPPING ANALYST
As a gruelling first quarter edges closer to the end, dry bulk ship owners are looking at an improved second quarter demand, which, coupled with slo ...
Monday, 24 February 14
INDONESIAN SUB-BITUMINOUS COAL SWAP FOR DELIVERY APRIL - JUNE 2014 SLIDES TO $ 58.60 PMT
COALspot.com – Indonesia, the world’s the largest exporter of the thermal coal's swaps for delivery April - June 2014 slide week ended ...
Monday, 24 February 14
Q1 2015 DELIVERY COAL SWAP CLOSED AT 2.62% HIGHER THAN Q2 2014 CLOSING SWAPS
COALspot.com: API 8 CFR South China Coal swaps for average Q2 14 deliveries lost 2.68 percent month on month and closed at US$ 76.20 per mt as on Fr ...
Saturday, 22 February 14
SHIPPING POISED TO RALLY AFTER SEVERAL WEEKS OF DROP
COALspot.com: The freight market was steady to firm with the dry bulk index up by 6.24 pct closing at 1,175 points week on week and the cape index w ...
Saturday, 22 February 14
POTEN RAISES THE QUESTION OF ACCURACY IN CALCULATING TANKER FREIGHT RATES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
As the tanker market has grown in complexity over the course of the past few years, the question of whether the traditional methods of assessing rat ...
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- Singapore Mercantile Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Orica Australia Pty. Ltd.
- Kepco SPC Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Siam City Cement PLC, Thailand
- ASAPP Information Group - India
- OPG Power Generation Pvt Ltd - India
- Baramulti Group, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bukit Baiduri Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Madhucon Powers Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Uttam Galva Steels Limited - India
- TeaM Sual Corporation - Philippines
- Larsen & Toubro Limited - India
- Wilmar Investment Holdings
- San Jose City I Power Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indika Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Renaissance Capital - South Africa
- Global Green Power PLC Corporation, Philippines
- Cement Manufacturers Association - India
- Sical Logistics Limited - India
- Karaikal Port Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Manunggal Multi Energi - Indonesia
- Ministry of Transport, Egypt
- Makarim & Taira - Indonesia
- Therma Luzon, Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Meralco Power Generation, Philippines
- Coalindo Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- The University of Queensland
- Indo Tambangraya Megah - Indonesia
- South Luzon Thermal Energy Corporation
- Semirara Mining and Power Corporation, Philippines
- Marubeni Corporation - India
- McConnell Dowell - Australia
- Essar Steel Hazira Ltd - India
- Videocon Industries ltd - India
- Bhoruka Overseas - Indonesia
- Chettinad Cement Corporation Ltd - India
- Australian Coal Association
- Indonesian Coal Mining Association
- Dalmia Cement Bharat India
- Samtan Co., Ltd - South Korea
- GAC Shipping (India) Pvt Ltd
- Bharathi Cement Corporation - India
- Kapuas Tunggal Persada - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- The Treasury - Australian Government
- Tamil Nadu electricity Board
- CIMB Investment Bank - Malaysia
- Posco Energy - South Korea
- Coal and Oil Company - UAE
- Minerals Council of Australia
- Kartika Selabumi Mining - Indonesia
- Bhushan Steel Limited - India
- Ceylon Electricity Board - Sri Lanka
- Petrochimia International Co. Ltd.- Taiwan
- Electricity Authority, New Zealand
- Sakthi Sugars Limited - India
- European Bulk Services B.V. - Netherlands
- Price Waterhouse Coopers - Russia
- Mercuria Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Central Electricity Authority - India
- Medco Energi Mining Internasional
- India Bulls Power Limited - India
- Toyota Tsusho Corporation, Japan
- Vizag Seaport Private Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Binh Thuan Hamico - Vietnam
- SN Aboitiz Power Inc, Philippines
- New Zealand Coal & Carbon
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PowerSource Philippines DevCo
- Banpu Public Company Limited - Thailand
- Tata Chemicals Ltd - India
- Simpson Spence & Young - Indonesia
- International Coal Ventures Pvt Ltd - India
- VISA Power Limited - India
- Eastern Energy - Thailand
- Orica Mining Services - Indonesia
- Edison Trading Spa - Italy
- Bukit Asam (Persero) Tbk - Indonesia
- Semirara Mining Corp, Philippines
- Thiess Contractors Indonesia
- Mjunction Services Limited - India
- Independent Power Producers Association of India
- Planning Commission, India
- TNB Fuel Sdn Bhd - Malaysia
- Grasim Industreis Ltd - India
- Globalindo Alam Lestari - Indonesia
- Energy Development Corp, Philippines
- Xindia Steels Limited - India
- AsiaOL BioFuels Corp., Philippines
- Indian Energy Exchange, India
- GMR Energy Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Meenaskhi Energy Private Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- White Energy Company Limited
- Asmin Koalindo Tuhup - Indonesia
- Goldman Sachs - Singapore
- Energy Link Ltd, New Zealand
- Sojitz Corporation - Japan
- Parry Sugars Refinery, India
- Carbofer General Trading SA - India
- Billiton Holdings Pty Ltd - Australia
- Georgia Ports Authority, United States
- Antam Resourcindo - Indonesia
- Sinarmas Energy and Mining - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Sidhee Cement - India
- Central Java Power - Indonesia
- Eastern Coal Council - USA
- Wood Mackenzie - Singapore
- SMG Consultants - Indonesia
- Ministry of Finance - Indonesia
- The State Trading Corporation of India Ltd
- MS Steel International - UAE
- Chamber of Mines of South Africa
- Timah Investasi Mineral - Indoneisa
- Kobexindo Tractors - Indoneisa
- Ministry of Mines - Canada
- Bukit Makmur.PT - Indonesia
- Africa Commodities Group - South Africa
- Cigading International Bulk Terminal - Indonesia
- PTC India Limited - India
- Bhatia International Limited - India
- Riau Bara Harum - Indonesia
- Commonwealth Bank - Australia
- Attock Cement Pakistan Limited
- Maheswari Brothers Coal Limited - India
- Economic Council, Georgia
- GN Power Mariveles Coal Plant, Philippines
- Australian Commodity Traders Exchange
- Electricity Generating Authority of Thailand
- Savvy Resources Ltd - HongKong
- Aditya Birla Group - India
- Salva Resources Pvt Ltd - India
- Rio Tinto Coal - Australia
- Petron Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Port Waratah Coal Services - Australia
- Gujarat Electricity Regulatory Commission - India
- IHS Mccloskey Coal Group - USA
- Ind-Barath Power Infra Limited - India
- Iligan Light & Power Inc, Philippines
- IEA Clean Coal Centre - UK
- Jaiprakash Power Ventures ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Heidelberg Cement - Germany
- Star Paper Mills Limited - India
- Power Finance Corporation Ltd., India
- Global Coal Blending Company Limited - Australia
- Indian Oil Corporation Limited
- Latin American Coal - Colombia
- Indogreen Group - Indonesia
- Oldendorff Carriers - Singapore
- Siam City Cement - Thailand
- CNBM International Corporation - China
- Gujarat Mineral Development Corp Ltd - India
- GVK Power & Infra Limited - India
- Krishnapatnam Port Company Ltd. - India
- Sarangani Energy Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Thai Mozambique Logistica
- SMC Global Power, Philippines
- ICICI Bank Limited - India
- LBH Netherlands Bv - Netherlands
- Deloitte Consulting - India
- Global Business Power Corporation, Philippines
- Trasteel International SA, Italy
- Standard Chartered Bank - UAE
- Directorate Of Revenue Intelligence - India
- Aboitiz Power Corporation - Philippines
- Lanco Infratech Ltd - India
- London Commodity Brokers - England
- Mercator Lines Limited - India
- Leighton Contractors Pty Ltd - Australia
- Metalloyd Limited - United Kingdom
- Interocean Group of Companies - India
- Vedanta Resources Plc - India
- Anglo American - United Kingdom
- Sindya Power Generating Company Private Ltd
- Jindal Steel & Power Ltd - India
- Coastal Gujarat Power Limited - India
- Ambuja Cements Ltd - India
- Kumho Petrochemical, South Korea
- Rashtriya Ispat Nigam Limited - India
- Kideco Jaya Agung - Indonesia
- Agrawal Coal Company - India
- Bulk Trading Sa - Switzerland
- Kohat Cement Company Ltd. - Pakistan
- Malabar Cements Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Parliament of New Zealand
- Mintek Dendrill Indonesia
- Intertek Mineral Services - Indonesia
- Merrill Lynch Commodities Europe
- Romanian Commodities Exchange
- Miang Besar Coal Terminal - Indonesia
- Borneo Indobara - Indonesia
- Altura Mining Limited, Indonesia
- Bangladesh Power Developement Board
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